Accountancy firm BDO, the sixth-biggest in Britain, is to merge with PKF (UK) to create a business with 3500 staff and £400 million revenues.

The two firms today said they were in “advanced discussions” about a merger to complete in the first few months of next year. PKF’s UK operations will be separated from its international operations and incorporated into BDO.

Clearance sale by Comet administrator

The administrator to failed electricals chain Comet is to start a clearance sale tomorrow, although Deloitte is not expecting to begin a liquidation until later this month. The accountancy firm is still exploring options to sell parts of the 236-store chain, which collapsed into administration on Friday. If a buyer cannot be found it is expected to start closing stores this month.

Axe threat to 300 as ING cuts costs

Up to 300 jobs are likely to go after Dutch bank ING said it will close its UK leasing business in Redhill, Surrey. The move is part of a wider cost-cutting plan that will see 2350 jobs go at ING’s insurance and commercial lending businesses across Europe. The Redhill operation offers leasing plans for vehicles and plants to small business and is said to account for up to 40% of this market in the UK.